First Solar to sell 20MW Ontario PV project to Enbridge; solar company also joins S&P 500

Facebook
Twitter
LinkedIn
Reddit
Email

First Solar and Enbridge have signed a deal for the Canadian energy company to buy a 20MW solar farm that the PV firm has developed and is building near Sarnia, Ontario. The project, which will be the largest PV installation in Canada when it’s completed by the end of the year, is being built by First Solar under a fixed-price engineering, procurement, and construction contract and will use more than 370,000 of the company’s CdTe thin-film modules.

First Solar said it will also provide operations and maintenance services under a long-term contract. The power output of the facility (seen in above photo under construction earlier this year) will be sold to the Ontario Power Authority under the terms of a 20-year power purchase agreement pursuant to the Ontario Government’s Renewable Energy Standard Offer Program. Subject to certain conditions, Enbridge may participate with First Solar in future solar energy projects at the Sarnia site.

Financial terms of the deal were not disclosed; First says it did not recognize revenue from the project in the third quarter.

“This agreement is the first that realizes the value of the OptiSolar project development pipeline that we acquired in April,” said First Solar’s president, Bruce Sohn. “First Solar’s project development and engineering, procurement, and construction capabilities have enabled us to complete over 65% of the 20MW project in less than three months.”

“As society and governments increasingly accept green energy, we believe that solar energy represents meaningful opportunities for long-term growth. The Sarnia Solar Project is right in the sweet spot of Enbridge’s renewable energy strategy,” added Patrick Daniel, president/CEO of Enbridge, which is Canada’s largest gas distribution company. “It has risk-and-return characteristics which are fully consistent with Enbridge’s low-risk business model, and similar to our crude-oil pipeline business. At the same time it represents a further step toward our corporate goal of a neutral environmental footprint.

“In 2009, Enbridge’s investment in solar energy will be approximately C$100 million,” he continued. “We plan to continue to invest in further renewable energy investments which have similar risk and return characteristics, including potential additional investments in Ontario.”

In other news, First Solar has been named to the Standard and Poor’s 500, making it the first pure-play solar company to be added to the prestigious stock index. First replaces pharmaceutical company Wyeth, which is being acquired by Pfizer.

23 August 2022
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil, on August 23–25, 2022, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry. In 2021 – despite the Covid-19 pandemic – Intersolar South America welcomed more than 28,000 visitors and over 1,000 conference attendees over 3 days. 200+ providers showcased their products. Combining local and international expertise, Intersolar South America brings together the PV and solar thermal sector to discuss the current status and strategic trends for Latin American PV markets, as well as technology innovations and new business opportunities. Overall, distributed generation is still driving momentum in the Brazilian market. Get 10% off with code 38LCF6KN
6 September 2022
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. From September 6–8, 2022 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will take place in Centro Citibanamex, Mexico City.
7 September 2022
The demand for rooftop solar PV is soaring, driven by falling costs of the technology against energy crises that are gripping countries globally. But while an increasing number of households turn to solar to generate their own electricity, there is now a need for more specialist equipment, technologies and services to ensure the solar transition can reach as many customers as possible. Delivering these is now a major challenge for rooftop solar installers. This webinar will analyse the characteristics of the rooftop solar market, discussing how the products, logistics, installation and servicing of solar systems has evolved in line with consumer demands.
14 September 2022
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!
15 September 2022
Bifacial PV modules will be the dominant solar PV technology globally within one or two years; in the utility-scale sector, their market share is already above 70%. This webinar will provide a clear view on the successful implementation of bifacial technology, maximizing system performance and minimising LCoE.
19 September 2022
RE+ 2022 is the umbrella event that includes SPI, ESI, RE+ Power, and RE+ Infrastructure. As North America's largest renewable energy event, it's a catalyst for industry innovation that's supercharging business growth in the clean energy economy.

Read Next

August 10, 2022
Canadian Solar plans to build an integrated PV manufacturing plant in Western China, with a capacity of 200,000MT of high-purity polysilicon, 10GW of both cells and modules and multi-GW productions of raw and auxiliary materials.
August 10, 2022
Iberdrola has commissioned the 590MW 'Francisco Pizarro' PV project in Extremadura Southwestern Spain, which is Europe’s largest solar plant.
PV Tech Premium
August 10, 2022
PV Tech Premium looks at the main drivers that drove solar PV in Chile in the last years and has risen as one of the leaders in the region.
August 10, 2022
OMERS Private Equity has acquired a minority stake in the Arizona-headquartered solar operations & maintenance (O&M) provider NovaSource Power Services.
August 10, 2022
A solar PV module frame made of recycled roll-formed steel has outperformed conventional aluminium frames in testing by an independent third party.
August 10, 2022
US solar tracker manufacturer FTC Solar has cut its net losses compared with last quarter and Q2 2021 but has seen its revenue collapse, blaming a hostile solar environment in the US that has seen project delays and cancellations, which it said it now hoped was coming to an end.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event